Bitpay Bans Payments to Merchants of Explicit Content, Cloud-Mining and Gambling

Bitcoin was originally created to free people’s money from the control and censorship of regulators, banks and governments. Companies in the ecosystem are supposed to be infused with this ethos, but as they strive to become more mainstream some, like Bitpay apparently, adopt the more prevailing standards in the business world.

Bitpay, the digital asset service provider based in Atlanta, Georgia, updated its Terms of Use agreement on February 2. The binding contract states that the use of the company’s services is subject to several important restrictions, including the sale of explicit sexual content.

Additional “prohibited activities” include the sales of narcotics, research chemicals or any controlled substances; cash or cash equivalents, and virtual currencies; items that infringe or violate any intellectual property rights; ammunition, firearms, explosives (including fireworks) or weapons; transactions that show the personal information of third parties; transactions that support pyramid, Ponzi, or other “get rich quick” schemes; transactions that are related to cloud-mining; credit repair or debt settlement services; any services which compete with Bitpay such as Kraken Exchange; and the sales of Kratom or Nootropics.

You can read more about the changes at news.bitcoin.com.